RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Soros Fund Management LLC

Soros Fund Management LLC lowered its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 9.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,030 shares of the insurance provider's stock after selling 7,800 shares during the quarter. Soros Fund Management LLC owned 0.14% of RenaissanceRe worth $20,166,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of RNR. ORG Wealth Partners LLC purchased a new stake in RenaissanceRe during the 3rd quarter worth about $30,000. Blue Trust Inc. purchased a new stake in shares of RenaissanceRe in the 2nd quarter valued at approximately $27,000. UMB Bank n.a. lifted its position in shares of RenaissanceRe by 316.7% during the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider's stock worth $34,000 after purchasing an additional 95 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in RenaissanceRe in the second quarter valued at $31,000. Finally, Advisors Asset Management Inc. acquired a new stake in RenaissanceRe in the third quarter valued at $45,000. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP David E. Marra sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $269.00, for a total value of $269,000.00. Following the completion of the transaction, the executive vice president now directly owns 83,044 shares of the company's stock, valued at $22,338,836. This trade represents a 1.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods cut their target price on RenaissanceRe from $316.00 to $310.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 12th. StockNews.com cut shares of RenaissanceRe from a "buy" rating to a "hold" rating in a report on Tuesday, October 22nd. Bank of America lifted their price target on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Jefferies Financial Group upped their price objective on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Finally, Barclays began coverage on RenaissanceRe in a research report on Wednesday, September 4th. They issued an "equal weight" rating and a $287.00 target price for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $293.00.

RenaissanceRe Stock Performance

NYSE:RNR traded down $7.90 during midday trading on Friday, reaching $279.16. The stock had a trading volume of 133,548 shares, compared to its average volume of 358,836. The stock has a market cap of $14.50 billion, a P/E ratio of 4.14, a P/E/G ratio of 1.40 and a beta of 0.41. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. RenaissanceRe Holdings Ltd. has a 12-month low of $188.24 and a 12-month high of $300.00. The firm has a fifty day simple moving average of $272.61 and a two-hundred day simple moving average of $248.42.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.89 by $2.34. The firm had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The firm's revenue for the quarter was up 52.1% on a year-over-year basis. During the same period in the prior year, the company posted $8.33 earnings per share. On average, equities analysts expect that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Friday, December 13th. RenaissanceRe's dividend payout ratio (DPR) is currently 2.25%.

RenaissanceRe Profile

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.